Canagold announces closing of fully subscribed rights offering

Vancouver, british columbia--( business wire )--canagold resources ltd. (tsx: ccm, otc-qb: crcuf, frankfurt: cana) (the “company” or “canagold”), is pleased to announce the company has closed its previously announced rights offering which expired on december 9, 2022 (the “rights offering”). at closing, canagold issued 25,277,221 common shares of the company (the “shares”) to rightsholders at a price of $0.175 per share for total gross proceeds of $4,423,514 and an additional 20,352,577 shares to sun valley investments ag (“sun valley”) pursuant to canagold's rights offering standby guaranty agreement, dated october 28, 2022 with sun valley.
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